(A) Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Employees and investment officials shall disclose to the City Manager any material financial interests in financial institutions that conduct business within this jurisdiction, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the city, particularly with regard to the time of purchase and sales.
(B) The City Auditor, City Manager and staff must continually be aware of the fiduciary nature of their responsibility for investing the public funds under their control. Only persons whose integrity remains unquestioned will be permitted to make investment decisions concerning public funds.
(C) The City Auditor, City Manager and staff members are prohibited from taking direct or indirect interest in any of the investments made by the City Auditor and from receiving payment, bonuses, or other compensation for investment services in excess of their designated compensation.
(D) All persons responsible for investment decisions or who are involved in the management of the city’s assets are subject to the codes of conduct established by all applicable statutes and regulations, the National Association of Securities Dealers, the Securities and Exchange Commission, and the Code of Ethics and Standards of the Professional Conduct of the Association for Investment Management and Research.
(E) The City Auditor, City Manager, and Deputy City Auditor shall annually complete the continuing education programs provided by the Treasurer of the State of Ohio.
(Ord. 7346, passed 2-11-97)